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Crude oil futures tick higher as Saudi Arabia’s 1 million b/d cuts begin

OilNOW -
(S&P Global Platts) Crude oil futures were buoyed as Saudi Arabia's voluntary 1 million b/d production cuts, announced in January, took effect, even as concerns of flailing energy demand amid the coronavirus pandemic persisted. At 11:52 am Singapore time (0352...
News

Despite advantaged position, Guyana must focus on compliance with rules, contracts – WoodMac Experts

OilNOW -
Even though Guyana enjoys an advantaged position as a world-class exploration hotspot with its light, sweet crude, and low breakeven costs for deepwater projects, it must remain focused on ensuring industry players comply with its rules and upkeep contract...
Exploration

Exxon, Shell and CNOOC could be most active explorers by end of 2021 – Westwood Energy

OilNOW -
ExxonMobil, Shell and CNOOC are expected to be the most active explorers by the end of 2021 with a significant portion of the offshore activity taking place in Guyana where multiple prospects remain on the prolific Stabroek block and...
Opinions

A contextual Economic & Financial Analysis of Guyana’s Gas to Shore Project

OilNOW -
By Joel Bhagwandin Part 1 Gas contained at the Liza Phase 1 Development can facilitate the production of 200 megawatts of power generation, enough to power the entire country and can be sustained for more than 15 years. More recently, it...
News

Shipping company making major inroads in Guyana, targeting oil and gas opportunities

OilNOW -
Shipping company Soreidom, with operations in South and North America, the Caribbean and Europe, has been operating in Guyana for over a decade and is now looking to tap into the new opportunities in the oil and gas industry. For...
News

Oil, other activities in Guyana’s Exclusive Economic Zone will be protected – President Ali

OilNOW -
In light of Venezuela’s heightened aggression which saw the recent illegal detention of two Guyanese registered vessels and their respective crews on January 21, last, many have expressed concerns about the possible interference or disruption of Guyana’s oil production activities being led by ExxonMobil...
News

Brazil sweetening pot for oil investors to offset competition from Guyana, Suriname

OilNOW -
Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...
News

Platts Analytics sees oil demand averaging 99.3 million b/d this year

OilNOW -
(S&P Global Platts) Global oil demand will rebound by more than 6 million b/d in 2021 and return to 2019 levels a year later despite the sharp acceleration in coronavirus infections and new lockdowns which have hit energy consumption from...
News

Petrobras makes new discovery in Brazil’s pre-salt

OilNOW -
Petrobras said on Friday it has identified the presence of hydrocarbon in a pioneer well in the CM-411 block, located in the Campos Basin pre-salt, in the State of Rio de Janeiro. Well 1-BRSA-1377-RJS, informally called Urissanê, is located approximately...
News

More Guyanese businesses tapped into oil and gas supply chain in 2020

OilNOW -
An increasing number of local businesses are tapping into the oil and gas supply chain. This is an observation from the Georgetown Chamber of Commerce and Industry (GCCI). Officials from the Chamber noted that some Guyanese entrepreneurs established new...
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Latest News

NewsShikema Dey -

Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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